Patent Expires On Best Selling Drug of All Time
Hugh Pickens writes "The U.S. patent has just expired on Lipitor, the best-selling drug of all time, as the first generic versions go on sale, marking the end of a brand that has dominated the drug industry, lowered the cholesterol of tens of millions of patients, and generated $10.7 billion last year in annual sales. But drug manufacturer Pfizer, dependent on Lipitor for almost one-fifth of the company's revenue, does not intend to go down without a fight. Pfizer is employing unprecedented tactics to hold onto as many Lipitor prescriptions as it can with an aggressive marketing plan and forging deals with insurers, pharmacy benefit managers and patients to meet or beat the price of its generic replacements because even at the lower price, Pfizer has a huge profit margin because of the relatively low cost of materials for Lipitor. Some deals require pharmacies to reject prescriptions for low-cost generics and substitute a discounted name-brand Lipitor while other deals block generic makers from mail-order services that account for an estimated 40 percent of all Lipitor prescriptions. 'Pfizer's tactic of dressing up as a generics company is pulling the rug under the incentive system created to foster the development of generic drugs,' says attorney David A. Balto."
My ass. you grant a monopoly to someone. That someone gets big on that monopoly. You think that they would just let it go when patent expires ? think again. has music industry let it go with copyrights ? no, they are trying to extend it to 120 years now. pfizer is just another example. bad example though - they could just lobby beforehand and try to extend patent durations, like music industry does with copyrights.
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A patent is going to expire. The company responds with marketing and by lowering it's price.
That's just horrid~ Someone is working to hard to find ills.
What's that? there are going to create a generic version of the drug they created? OMG!!1!!!
The Kruger Dunning explains most post on
As a rule, politicians are white, elitist, and rich.
White rich elitists tend to eat overly calorific foods, that cause high cholesterol.
As such, I would not be surprised if many politicians have scripts for cholesterol, hypertension, and liver disorders.
Getting between your meal ticket and his life sustaining medications is not good PR.
Compare to copyright, which is not life threatening or life regulating (at least once you pass a certain income bracket. Ahem) you can clearly spot the reasons why, aside from insider trading and the like, politicians don't get lobbied for quite the same things from the pharmecutical giants the same way they get lobbied for copyright extensions from big media.
If you throw in the more tinfoil hat type thinking about the control of information and culture that makes the public easier to police and control, I think you have a winner.
Pfizer is a for-profit company, and that they want to patent their product and profit from their ingenuity is great. That's how capitalism works: sell a good product that people want to buy, turn a profit, succeed.
However, drug patents last up to 20 years. Rather than riding heavily on Lipitor profits for that period of time, and releasing alternate versions of the same drug over and over again, wouldn't it have been prudent to turn efforts toward producing and patenting the Next Amazing Drug?
They knew the day would come that Lipitor's patent would expire. If, in spite of the massive profits they've made from this and other products, they couldn't innovate anything to replace that massive chunk of profits, then they have to bow out gracefully instead of going through ridiculous, unsavory means to ensure revenue.
Profiting morally from a good profit is capitalism. Tactics like this are not.
Don't buy your food in a box. Cook it yourself.
Sadly enough, The whole hospital pharmacy apparatus becoming completely automated and mechanized within the next 20 years.
LOL, why is that sad? You just scared the shit out of me about what the meat-based pharmacists are up to! :)
W..w..W - Willy Waterloo washes Warren Wiggins who is washing Waldo Woo.
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People seem to think congress caves into moneyed corporations. But that is not an accurate assessment. Congress does whatever gets it elected. Any congressperson who doesn't do what gets him/her elected loses the next election to whomever does do what gets them elected.
What gets a politician elected? Media coverage gets politicians elected. What do you know about the candidates in any given election? You know what you see on TV, hear on the radio, or read in the news. Campaign donations can buy media coverage (advertisements). Improving (or harming) the local job market also tends to garner media coverage. So politicians do whatever gets them campaign donations and keeps their electorate employed--so they can get positive media coverage.
Do you know what else generates media coverage? The media! Many elections are so close it takes only a small shift in opinions to change the outcome. A single story can make or break an election. Congress does whatever the media asks of them because the media have the power to swing an election. What key legislative issue is the media most concerned with? Copyrights! This is why the Copyright Term Extension Act passed by voice vote in both houses of congress in a single day with no debate--just days ahead of the 1998 election.
Surely Alcohol is the best selling drug of all time
Universities don't discover drugs. They discover mechanisms. Drug companies make drugs that work on those mechanisms. I suppose, if the Aussie taxpayers really did finance all of Gardasil, they ought to be intelligent enough to extract some pretty damned good fees for the US patent rights. If they can charge much more, but don't pay more, then what kind of chumps are running AU? Sure as hell not the CSIRO guys who went after Buffalo.
Probably the kind that care more about saving lives and recouping their costs than n figure profits.
Most human behaviour can be explained in terms of identity.